5 reasons (there are way more!!) Why social media is good for business and helps convert sales

“A social media presence is crucial to the success of a business in today’s world but a good strategy is even more important”

2018 showed that online shopping through mobile devices is catching up with desktop purchases. Social media advertising is a HUGE market. By 2021 e-commerce sales via mobile are expected to account for 54% of all e-commerce sales – that’s up from 34% in 2017. Also, in 2017, retail e-com sales worldwide amounted to 2.3 trillion US dollars and e-retail revenues are projected to grow to 4.88 trillion US dollars in 2021. THAT’S MORE THAN DOUBLE! It’s clear, this number will only continue to grow and social media plays a HUGE part in this. So, the numbers tell us that it’s no longer optional but ESSENTIAL to have a social media strategy & measurement system in place. A good measurement system will enable you to track your ROI.

So, what does that mean for your business? It means businesses with no social media presence are missing out, falling behind or going out of business. Less than two-thirds of small to medium businesses do not have a website however 21% of these businesses say it’s because of social media. While the number is not bad, the alarming statistic is that 48% of small to medium businesses do not invest in social media. These businesses are failing to grasp the importance of the digital world and it’s one of the top 3 reasons why new start-ups fail. A social media presence is crucial to the success of a business in today’s world, but a GOOD SOCIAL MEDIA STRATEGY is even more important. If consumers cannot interact or see an online presence then, how do we know the businesses exists?

Think about it, as consumers, today the first part of the purchasing process is to go to our phones to find the product we are looking to purchase, check pricing and search for reviews. A 2015 study found that 52% of consumers were influenced by Facebook when making both online & offline purchases. Currently, there are over 2 BILLION plus users that scroll through Facebook every day. There are 3.3 MILLION “Shares” every single MINUTE on Facebook with $11,700 being made. So that’s why developing an effective social media strategy is so important to your success!

Here are 5 reasons (there are way more!!) why social media is good for business and helps convert sales. 

1. It’s interrupter marketing. A sponsored post on social media interrupts the potential client’s regular scrolling. Remember those 2 billion Facebook users? Interrupt their scrolling, it’s very effective!
2. It’s a way for people to communicate with your business. In some cases, social media messaging is the only way for consumers to get in contact with a business. Especially, if there is no website or publicly accessible business email address. Customers can book appointments, ask questions and get QUICK answers through social media messaging.  Speed is everything or they will move onto a competitor. Sportclips.ca, for example, execute this strategy very well.
3. It’s a way for your business to target your IDEAL audiences. Unlike traditional marketing, businesses can specifically target ads to audiences by location, behaviours, age & interests helping your business to reach the right person at the right time. This helps save money on advertising. There is no “spray and pray approach”! Its all about strategy!
4. It’s a way for businesses to become industry experts and drive traffic to their website (if they have one). Social media is a way of link building and keep people visiting your website and blogs.
5. Generates “behind the scenes”, while creating insider information about your business. Customers love to get an insight into the business and the staff, which helps to generate repeat or loyal customers. For example, a restaurant can shoot a short video of a meal favourite being prepared to get the taste buds flowing or an annual “happy holidays” video from the staff thanking customers for their support! Why video? Because Facebook (and Instagram) it gives more attention to videos. They love videos!

However, it’s simply not enough to just have a Facebook, Instagram and Twitter page. Regular posting is important but it can’t be all “forced marketing”. It’s not all about selling & promoting products. In 2018 Facebook has made it harder for businesses to show up on the personal newsfeeds and engage with followers. It takes more than the occasional post. 58% of small businesses are only spending about an hour a week on their Facebook marketing efforts. There is a reason why large businesses dedicate WHOLE departments to manage their Social Media Marketing alone.

It’s not enough to post random messages a few times a week. It can’t be directionless. It needs a strategy, a solid plan and a means of measuring the RESULTS.  So, develop a strategy, make a plan, decide your budget, target your audience and measure the results.